GBP/USD: Push through 1.2185 needed to lift Cable more obviously.

Sterling is little changed on the session. Economists at Scotiabank analyze GBP/USD outlook.Charts lean bullish.

A positive session for the GBP on Wednesday delivered some bullish technical cues in the form of outside range signals on the intraday and daily charts. But that has not yet translated into clear upside progress in Cable.A push through intraday trend resistance at 1.2185 is needed to lift the GBP more obviously. The charts suggest firm support on softness to the 1.2050/1.2075 zone from here, however.

EDITORS’ PICKS

EUR/USD drops to 1.0500, as US Dollar regains poise

EUR/USD is dropping back toward 1.0500, fading the recovery in the European morning on Thursday. The souring mood seems to be lifting the demand for the US Dollar, capping the upside in the currency pair ahead of ECB-speak and US data.

EUR/USD News

GBP/USD pares gains below 1.2150, US Jobless Claims data eyed

GBP/USD is paring back gains below 1.2150 in European trading on Thursday. The pair is pressured by a renewed US Dollar buying, as investors turn cautious, as the US bond market rout resumes. Focus shifts to US Jobless Claims data for fresh impetus.

GBP/USD News

Gold attempts a modest recovery from multi-month low, limited upside potential

Gold price gains some positive traction and seems to have snapped an eight-day losing streak. The US Treasury bond yields and the USD pullback from the recent highs as investors now seek more clarity about the Fed’s next policy move, which, in turn, is seen lending support to the metal.